Bonk.fun Grabs 55% of Solana Token Issuance Share, Pushes BONK Demand

Over the weekend, Bonk.fun overtook Pump.fun, the popular Solana token issuer, to become the leading launchpad in the market, claiming over 55% market share. This milestone is bumping up demand for BONK, the Solana-based token at the center of its ecosystem.

New data show that Bonk.fun has facilitated over $540 million in volume across 175,000 launches, generating approximately $34 million in fees. That gives it a commanding 55.2% share of the meme launchpad market — ahead of Pump.fun’s 34.9% and $341 million in total volume.

Pump.fun had dominated the sector since its January 2024 debut, accumulating over $800 million in fees within two years.

Bonk.fun has flipped that lead in just two months, driven by deeper token incentives and faster platform traction and a BONK buy-back plan that has caught the eye of some early investors.

“The massive increase in Bonk.fun market share helps BONK through the aggressive market buy pressure it contributes to the BONK token,” shared widely-followed crypto investor theunipcs in a message to CoinDesk.

A key difference lies in Bonk.fun’s fee structure. 50% goes to buying then burning BONK, 8% goes to buying BONK for reserves, and the rest the platform keeps as revenue.

“50% of Bonk.fun fees goes towards buying and burning $BONK, and another 8% goes towards buying BONK for reserves. When you consider that Bonk.fun has generated over $1 million/day daily since it flipped Pump.fun, that’s at least $500,000/day in revenue-driven BONK buy and burn,” the trader added.

The biggest Bonk.fun-issued token is USELESS, an intrinsically useless token that jibes at its own lack of utility that has built a cult following in past week, helping propel it to over $250 million in market capitalization just weeks after going live.

If Bonk.fun continues to dominate at current pace, annualized BONK purchases could reach into the hundreds of millions, further tightening supply.

Meanwhile, other Solana-based launchpads, such as Believe (3.8% market share), Jup Studio (2.1%), and Moonshot (1.7%), remain far behind in both volume and engagement.

Read more: Pump.fun Aiming to Raise $1B Via Token Sale at $4B Valuation: Blockworks